GE Vernova (NYSE:GEV) Stock Price Expected to Rise, Susquehanna Analyst Says

GE Vernova (NYSE:GEV) had its price objective raised by Susquehanna from $370.00 to $399.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a positive rating on the stock.

A number of other research firms also recently commented on GEV. Bank of America boosted their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Truist Financial set a $440.00 price objective on shares of GE Vernova in a research note on Thursday, March 27th. Guggenheim reissued a “buy” rating and set a $380.00 price target on shares of GE Vernova in a research report on Thursday, April 17th. TD Cowen cut their target price on shares of GE Vernova from $405.00 to $390.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Six research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $369.22.

GE Vernova Stock Performance

NYSE GEV opened at $360.57 on Thursday. GE Vernova has a one year low of $138.67 and a one year high of $447.50. The firm has a market cap of $98.56 billion and a PE ratio of 64.85. The firm’s fifty day moving average is $318.90 and its two-hundred day moving average is $331.69.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.46. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period last year, the company earned ($0.47) earnings per share. Research analysts predict that GE Vernova will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.28%. GE Vernova’s payout ratio is presently 14.41%.

Institutional Investors Weigh In On GE Vernova

Several hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new position in GE Vernova during the fourth quarter worth $1,109,720,000. Capital International Investors lifted its holdings in GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares during the last quarter. GAMMA Investing LLC grew its holdings in GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company’s stock valued at $653,769,000 after purchasing an additional 2,135,066 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of GE Vernova by 1,638.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock valued at $432,309,000 after purchasing an additional 1,238,690 shares during the period. Finally, FMR LLC boosted its holdings in shares of GE Vernova by 3.4% during the 4th quarter. FMR LLC now owns 24,861,833 shares of the company’s stock worth $8,177,803,000 after buying an additional 814,155 shares during the period.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.